Spain GDP growth confirmed way above EU for 2017 & 2018

Spain GDP growth confirmed way above EU for 2017 and 2018 by the European Commission

Before investing anywhere, it’s always good to check the Economy and the macroeconomic data of the country. There is a good news: the economic expectations of Spain are revised upwards.

Here is the summary of the European Commission:

Strong, balanced growth set to continue

Economic activity accelerated in the first half of this year, underpinned by private consumption and exports. Growth is set to remain robust but ease going forward, driven by a slowdown in private consumption. The unemployment rate is projected to continue declining. Thanks to the positive macroeconomic outlook and continued expenditure restraint, the general government deficit and debt ratios are forecast to continue declining.

Rather than slowing as expected in spring, economic activity accelerated in the second quarter of 2017. Real GDP posted a strong 0.9% expansion on a quarterly basis in the second quarter of 2017. The growth is expected to remain strong in 2018 and 2019, check those prevision:

Strong growth in the first half of the year defers the expected deceleration

Domestic demand remains the main engine of growth

Strong job creation supports private consumption

Residential construction investment rebounded.

Net exports also continue to sustain GDP growth.

Growth is easing in the second half of the year, but real GDP is still expected to increase by a robust 3.1% in 2017 .

To be fair, the events in Catalonia should have some impact, it’s difficult to measure those now.

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